AMD shares slide over allegations against ex-CEO

Shares of Advanced Micro Devices (AMD.N) fell more than 6 percent on Wednesday following reports linking the company's former top executive to the largest U.S. insider trading scheme in history.

Hector Ruiz, now chairman of AMD-affiliated spinoff Globalfoundries, a chip maker, was said to have passed on confidential information regarding the spinoff to a hedge fund manager when he was AMD's chief executive, an allegation first reported by the Wall Street Journal.

Read Full Article from Reuters

- Posted: 2009-10-28 14:33:54

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